HomeMy WebLinkAboutCity Council Resolution 2007-161CITY OF PLYMOUTH
RESOLUTION NO. 2007-161
REDUCING REQUIRED FINANCIAL GUARANTEE
EAGLEWOOD ADDITION (92110)
WHEREAS, in accordance with the development contract dated April 12, 1993, Argus
Development, Inc., developer of Eaglewood Addition (92110), has agreed to install
certain improvements for said development; and
WHEREAS, the developer has completed the street, utility and site grading as noted
below; and
WHEREAS, the developer has requested a release of the financial guarantee to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PLYMOUTH, MINNESOTA; that the financial guarantee requirements
remain as follows:
ITEM
ORIGINAL
NEW
AMOUNT
AMOUNT
Street Constriction
$109,519
-0-
Sanitary Sewer
58,962
-0-
Watermain
41,270
-0-
Storm Sewer
61,826
-0-
Boulevard and Drainage Swale Sod
7,400
-0-
Mitigation Pond Constriction
4,180
-0-
Street Signs (3 x 200)
600
-0-
Site Grading and Drainage Improvements
111,928
-0-
Park and Trail Improvements
4,449
-0-
Setting Iron Monuments
3,000
-0-
Design, Administration, Inspection, As-
48,376
-0-
Bullts
TOTAL
$451,510
$-0-
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR ?00--161_16166 CCR 200-461. doe
Resolution No. 2007-161
Eaglewood Addition (92110)
Page 2 of 2
FURTHER BE IT RESOLVED that the financial guarantee requirements for the
following items per Section 8.1 of the approved development contract be reduced as
follows:
ITEM
Maintenance of Erosion and
Sediment
Control Plan, Street Sweeping,
and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 214:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $ -0- $ -0-
$17,600 4,400 -0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be
reduced from $4,400 to $0 (zero). Letter of Credit No. 214 may be released by the
Finance Department.
Adopted by the City Council on April 10, 2007.
C \Document, and Settnig, ,eng(kdd Local Setting, TempCCR ?00--161_16166 CCR 200-461. doe